Fall 2013 KRIRM Newsletter

FEATURES 1

Wagon Tracks

“10 Years of KRIRM“

By Dr. Clay P. Mathis

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Welcome, Class of 2015

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A Summer of Internships

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KRIRM welcomes 3 new students to Kingsville

KRIRM’s Class of 2014 tells of their summer internship experiences across the world

Published by the KING RANCH ® INSTITUTE FOR RANCH MANAGEMENT

Texas A&M University-Kingsville 700 University Blvd., MSC 137 Kingsville, TX 78363 361-593-5401 361-593-5404 fax krirm@tamuk.edu http://krirm.tamuk.edu Clay P. Mathis, Ph.D., Director and Endowed Chair Ashley Patterson, Editor

Always More to Learn

A successful rancher explains factors he believes will impact the future of our industry

By Kindra Gordon

MANAGEMENT COUNCIL Chair: James H. Clement Jr., King Ranch, Inc. Caroline Alexander Forgason, Robert J. Kleberg, Jr. & Helen C. Kleberg Foundation Gus T. Canales, A.T. Canales Ranches Dave DeLaney, King Ranch, Inc. Lynn Drawe, Ph.D., Retired Director Rob & Bessie Welder Wildlife Foundation Paul C. Genho, Ph.D., AgReserves, Inc. Jack Hunt, Retired CEO King Ranch Inc. Bob McCan, McFaddin Enterprises

Cover Art: “A Lot Like Heaven” Tim Cox

“10 Years of KRIRM” From the Director, Dr. Clay P. Mathis

W

e are coming to the end of our 10-year anniversary at KRIRM. As we look to the future, we would like to take a step back to reflect on how KRIRM has developed throughout the past 10 years. During the initial stages, the vision of KRIRM was established to educate leaders in the ranching industry and ensure that our hard earned heritage is not lost. With a generous endowment from the Robert J. Kleberg, Jr. and Helen C. Kleberg Foundation, the director position was established. The directorship was initially filled by Dr. Barry Dunn, a great leader who served at the helm of KRIRM until 2010. Dr. Dunn’s initial responsibility was to create a graduate student training program based on a multi-disciplinary, systems approach to ranch management. The KRIRM model was designed to train mature and experienced students, and remains the only master’s degree in ranch management in the world. We are grateful to the supporters of the five endowed fellowships that help us attract exceptional students and enable us to offer a unique learning experience at minimal expense to students.

We have graduated 22 students who are now employed in 10 states across the country. Throughout this time, our students have completed more than 60 unique ranch projects for 19 partnering ranches. Collectively, our graduates now manage livestock and wildlife on more than 1.75 million acres. Our educational opportunities for graduate students are first-class and require 42 graduate credit hours. However, the most valuable components of the program are the external learning opportunities offered to our students. These include multiple projects with partnering ranches and additional workshops with industry professionals. These experiences allow our students to broaden their business skills and knowledge of global agriculture.

“Today, we are stronger than ever. We hope to continue to positively impact our students and the people we educate through our outreach efforts, and we strongly believe the possibilities are endless.”

Photo by JoAnne Meeker

The outreach component of KRIRM was part of the original model, and with the generous support from Peter Holt, the Holt Cat® Symposium on Excellence in Ranch Management was endowed, and remains the annual showcase event for KRIRM. While working towards the vision during the first few years, the management council and other supporters wanted to expand the institute’s outreach to the industry. The idea of endowed lectureships came to fruition, allowing KRIRM to provide even greater knowledge transfer throughout the ranching industry. Soon after, the Texas AgFinance Certificate in Advanced Ranch Management program was created with a substantial resource pledge from Texas AgFinance.

With this generous donation, we expanded our offering of rancher-focused educational opportunities though lectureships. To date the outreach efforts have yielded more than 2,750 individual event registrations from 33 states and five countries. We have awarded the Texas AgFinance Certificate in Advanced Ranch Management to more than 50 individuals from 12 states.

Today, we are stronger than ever. We hope to continue to positively impact our students and the people we educate through our outreach efforts, and we strongly believe the possibilities are endless. We will continue to educate leaders in the ranching industry. While doing so, we will also seek new and innovative approaches to further develop industry leaders and managers of large ranches.

wagon WT tracks

KRIRM I Fall 2013 I 1

College Hall tower on Texas A&M UnviersityKingsville campus. TAMUK photo.

Tyrell Anderson

Tyrell grew up on a seedstock operation in Southern Idaho, Eastern Oregon, and Northern Nevada. In 1997 his family moved to the Double T Ranch in Babb, Montana, which ran 1,200 head of seedstock, stabilizer cattle. There on the Double T Ranch, he worked on all facets of seedstock production, as well as dry land farming until he graduated from Cardston High School, Alberta Canada.

After high school, he served two years as full-time volunteer missionary in Sendai Japan learning the language and to love the Japanese people and culture. After returning home, he went to school at Brigham Young University (BYU) in Provo, Utah, as an environmental soil science major. Tyrell met his wife Nichole in Utah, and they were married December 20, 2005. He then transferred to BYU in Rexburg, Idaho, as an animal science major in 2006. Tyrell interned on Deseret Cattle and Citrus Ranch in St. Cloud, Florida, for four months, working on two separate units. Each ran about 4,500 head of cattle. He also participated in their breeding program of Black Angus seedstock cattle.

Tyrell graduated from BYUI in the spring of 2008 with a bachelor’s degree in animal science and a minor in business and agronomy. He spent his summers working full-time on the RO Cattle Ranch in Smokey Valley, Nevada. The ranch ran 1,200 head of commercial cattle and 400 head of Black Angus seedstock cattle. After graduation, Tyrell worked as the assistant general manager there for three years.

He managed all farming operations and also managed all trucking operations, ranch maintenance, and backgrounding 2 I Fall 2013 I KRIRM

lots. Tyrell assisted in managing irrigated and leased summer pastures and a 1.2 million acre BLM winter grazing allotment. He also helped to develop a hydroelectric power plant on the ranch using a pipeline that captures water from the North and South Twin rivers on the Toiabi Mountain Range.

Tyrell then took a management job on the Roaring Springs Ranch in French Glen, Oregon, which runs roughly 6,500 of commercial cows and 2,400 head of summer stockers. His duties included management of 1,000 acres of center pivot irrigation as well as 10,000 acres of flood irrigated meadow and a 2,000 head backgrounding lot. He also oversaw all maintenance of the ranch, which included housing, production facilities, roads and equipment. He oversaw all rangeland improvements, which consisted of re-seeding of burned grazing lands, seed harvesting, also stock water development and improvements. As part of the KRIRM program, he hopes to continue to grow and gain knowledge and skills in order to be part of the bright and challenging future of agriculture. Tyrell and Nichole have three children.

Cody Peck

Cody was born in Scottsbluff, Nebraska, and grew up not far from there in Julesburg, Colorado. Cody was lucky enough to have married his wife, Hester in 2007, and was blessed with two wonderful girls; Riata, 5 and Ava, 2.

Cody came from Deseret Cattle and Citrus where he was

involved in the Leadership Development Program. Deseret Cattle and Citrus is a diverse and complex operation that involves several different enterprises including cattle, citrus, timber, sod, wildlife, and shell mining. During his time in Florida he worked on the seedstock unit that produces 1,300 bulls for ranch use. In addition, Cody was able to work in a one-of-a-kind ranching environment that receives over 50 inches of rain annually, deals with unique issues in terms of urban development, and has a massive amount (44,000) of mother cows.

Before going to Deseret Cattle and Citrus, Cody spent nearly five years as Herdsman at the 50,000 acre Joy Unit of the Rex Ranch in the Sandhills of Nebraska. The autonomy and large amount of responsibility given to herdsmen at the Rex allowed Cody to develop managerial skills on a large scale using some of the most progressive techniques in the industry. As Herdsman, Cody was responsible for all day to day management for a large portion of the unit as well as assisting other units and being an integral part of the overall ranch strategy.

For the two years prior to his employment with the Rex Ranch Cody was a Secondary Education Instructor of Social Science at Garden County High School. While there, he developed numerous professional skills such as effective interpersonal communication, public speaking, multi-tasking on many levels, leadership, and organizing and implementing activities in a limited time setting. More importantly, Cody learned that his passion will always be agriculture.

Cody graduated from Chadron State College in Chadron, Nebraska in 2006 and Northeastern Junior College in Sterling, Colorado in 2003. During this time, Cody had various experiences working for feedlots, registered producers, commercial producers, horse breeders, agronomists, custom processors and even a grain elevator. Cody is excited to continue to diversify his experience at KRIRM.

Rhonda Wulf

Rhonda Wulf grew up near Morris, Minnesota, as part of the third generation in a family cattle operation. The Wulf family has operated a seedstock and cattle feeding operation, which was started by the late Leonard Wulf in the 1950’s. Here Rhonda learned to appreciate the scope of the beef industry from genetics to carcass, developing a passion not only for producing a high quality, more efficient beef animal, but the valued relationships with the people who make up each segment of the industry. She was responsible for research, education and marketing in the Wulf operation. With Wulf Cattle’s goal of being a top seedstock producer in the country, she worked at proving out the genetics through research, focusing the last few years on feed efficiency and genomics.

She also planned educational seminars, assisted satellite herds to help them send bulls that fit the Wulf Cattle system, helped commercial bull customers add value to their calves with value added programs and returning carcass data to help make bull selection decisions. A few months of each year was devoted to planning for the annual production sale each March. She coordinated the marketing and printed materials for the brand.

Rhonda graduated from South Dakota State University with a Bachelor of Science in Animal Science. She worked at an ethanol plant in Morris, Minnesota, on product development, adding value to the co-products, distiller’s grains, to make lick tubs for livestock. She also spent seven years with the University of Minnesota Extension, spending two days a week as a county extension educator.

Here she helped develop the Farm to School program at Willmar Public Schools to help educate students about food production, and was a part of the state Extension Beef Team which addresses industry issues through educational programs and research initiatives.

Rhonda has been involved in cattlemen’s organizations, breed associations, and is a FFA alumni.

KRIRM Class of 2015 from left to right: Tyrell Anderson, Rhonda Wulf, and Cody Peck.

Charlois cattle on Hoodoo Ranch, where Darrell White interned.

Tylor Braden

Second-year student, Tylor Braden, had the opportunity to spend last summer interning with Silver Spur Ranches at their feedyard in Minatare, NE, 10 miles east of Scottsbluff. Silver Spur Ranches is the largest private land holder in the US, with ranch properties in Wyoming, Colorado, New Mexico, and Nebraska. In 2011 Silver Spur Ranches added the feedyard that feeds the majority of the ranch calves, as well as some customer cattle. The yard feeds primarily all natural ranch cattle but also feeds non-hormone treated cattle and conventional cattle.

Braden had extensive experiences with cow-calf and stocker operations in the past; however, prior to last summer he had less exposure to the feeding segment of the industry.

Therefore, it made sense to provide Braden greater insight into the feeding segment, and the opportunity to work with another large, integrated cattle operation company.

While at Silver Spur Feeders, Braden was able to assist with many of the normal day-to-day operations, but more importantly he learned about the complexities of inventory management in a feedyard, company acquisition and transition, and strategic planning. This was truly a-once-in-alifetime experience for Braden.

Braden would like thank Dr. Jeff Heldt, Larry Gilmore, and Ryan Chaney, as well as each and every individual he had the opportunity to meet this summer. Each person aided in providing a special and unique opportunity. He was not only able to build future business relationships, but he also made lifetime friends.

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Tyson Johnson

Tyson Johnson and his family were South America bound on his internship, spending the summer on a project in Uruguay where he worked with Farmland Reserves, Inc. His task was to research the cattle industry in Uruguay and evaluate the potential for the purchase of a large scale cattle operation in that country. Having spent some time abroad in New Zealand and Argentina, Johnson and his family were up for the challenge.

The first step of this project was to gain an understanding of the Uruguayan beef industry. Johnson traveled the country, meeting with successful producers and beef associations to learn the issues and typical management practices. In the process, Johnson discovered that Uruguay has all natural and complete traceability laws for beef, and that a high percent of cattle in that country are grass fattened.

This helped him to understand the large beef export market that is the target of most beef production in the country.

While spending the summer in Uruguay, Johnson pulled together the critical pieces of information and developed a solid understanding of beef production yields, practices, and revenues. Additionally, he learned of related production expenses, and was able to build a model for analyzing the net present value of potential ranching operations in differing regions of the country. As a result of his efforts, Johnson recommended that Uruguay was not an optimal location for purchasing a large scale cattle operation under the current

market values of land and livestock. Johnson felt that working closely with Farmland Reserves, Inc. and leaning on their extensive experience to complete this project enhanced the quality of the analysis. It was a great learning opportunity and an adventure of a lifetime for Johnson.

based assessment tool for predicting deer populations with and without a feed supplementation program over five years with varing precipitation amounts.

Redman then evaluated supplement, equipment, and labor needs to support the program, and produced a yearly projected cost of a supplementation over five consecutive years.

Chris Redman working cattle on the Triangle Ranch in west Texas.

The time that Redman Chris Redman was able to spend with Chris Redman traveled to the Richardson was his most valuable. Some strategies Redman Triangle Ranch to work with the manager, Clint Richardson, learned from Richardson were budgeting, strategic planning, for his summer project. The Triangle Ranch is a 150,000 communication, financial analysis, and many other topics. acre ranch located on the rolling plains of west Texas in Redman is confident that the strategies, principles, and tools Cottle, Foard, and Hardeman counties. It is primarily a that he learned will be very helpful in his future endeavors in commercial cow/calf operation with additional stockers as ranch management and his weather permits. Since personal life.

Redman’s prior ranching For Redman, the most experience was in the Pacific rewarding experience from Northwest, working in the the internship was the southwestern U.S. was a relationships built over great experience for him and the summer. From the his family. He was also able kindness of all the ranch to gain a better perspective employees to the strong of the industry by seeing the friendship formed with unique challenges that the the Richardson family, ranches in the rolling plains Redman and his family region face. were truly blessed this Although his main A scenic view of the countryside in western Uruguay. summer. focus was looking into a supplementation program for the ranch hunting enterprise, Redman was able to learn from many different aspects of the ranch. Redman had the Darrell White opportunity to work on his own with the cowboy crew, and Darrell White was fortunate enough to spend his summer also spent valuable time with Richardson learning about months at the Hoodoo Ranch with J.D. Radakovich. his management technique and strategies. Except during Radakovich is a 2010 graduate of the King RanchŽ Institute weaning time, Redman checked cattle, water, and fence most for Ranch Management and is Chief Operations Officer mornings, and worked on for Hoodoo Land his project in the afternoons. and Cattle Company His project focused on (HLCC). The company finding the true costs of manages farm and ranch supplementing deer and land in New Mexico, Montana, Wyoming, to see if supplementation would increase revenue for Utah, and Texas to raise cattle, horses, citrus, hay, their hunting operation vegetables, grains, and over time. Redman used sugar cane. The largest knowledge and skills that HLCC landholding is the he gained from the KRIRM historical Hoodoo Ranch, program to build an ExcelKRIRM Class of 2014 from left to right: Tyson Johnson, Tylor Braden, Chris Redman, and Darrell White.

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Santa Gertrudis cattle grazing on King Ranch.

Participating in KRIRM symposia and lectureships has earned individuals the Texas AgFinance Certificate in Advanced Ranch Management as well as expanded their knowledge and perspective.

By Kindra Gordon

The one-of-a-kind certificate program, which was inding a better way,” “Being as progressive as I can,” and established in 2008 with an endowment from Texas “Seeing things from a different perspective.” These are AgFinance, is designed for individuals working in the everamong the reasons Rob von der Lieth was interested in changing ranching industry who wish to continue their participating in the Texas AgFinance Certificate in Advanced education through symposia and lectureships. The goal of the Ranch Management program offered by the King Ranch® certificate program is to enhance the learning environment of Institute for Ranch Management (KRIRM). the ranching industry by educating not only ranch managers, A native of California who graduated from U.C. Berkeley but agricultural loan officers, local and state federal agency with a degree in economics in 1976, von der Lieth runs employees, extension educators and consultants. Individuals a winter stocker operation in Oakdale, California, and a who complete four lectureships and two symposia within summer stocker operation in Big Piney, Wyoming. He also a three year period earn the Texas AgFinance Certificate in works as a field representative for Tri-State Livestock Credit Advanced Ranch Management.

Corporation and has been with the company since 1984.

More than 2,700 people in the industry—representing 33 A client recommended the KRIRM educational programs states and five countries—have participated in the educational to him, and with von der Lieth’s outreach events offered by interest in lifelong learning, he KRIRM, and more than 50 contacted KRIRM to find out individuals from 12 states more about their offering. (See have earned their certificate in Sidebar for listing of KRIRMs advanced ranch management annual events.) since 2008.

During 2010 and 2011, Additionally, individual von der Lieth attended four programs continuing lectureships and two symposia education units (CEU’s) can coordinated by KRIRM at also be earned for professional the Texas A&M Universityorganizations. (Texas A&M Kingsville campus. Through his University-Kingsville participation, von der Lieth was is accredited by SACS presented the Texas AgFinance requirements.)

Certificate in Advanced Ranch Certificate class of 2012, the largest class to date. Lectureships and From his participation, von Management in October 2011. symposia at KRIRM reach more than 400 people annually. der Lieth values his experiences

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with the KRIRM programs. Specifically, he said, “The seminars I attended focused on equine and strategic planning were very relative.”

He added, “I am always seeking ways to keep up on new technology and issues. The KRIRM seminars provide a way to evaluate what you are doing and see it from a different perspective. It just broadens your horizons.”

Wayne Fahsholtz, current CEO of the Padlock Ranch at Ranchester, Wyoming, echoes similar sentiments about KRIRM’s program offerings.

“I have taken several courses and recommended that my clients take some,” said Fahsholtz. “The certificate was not a primary driver. Each component fits particular needs.”

Specifically, Fahsholtz shares that the accounting segment was most valuable for him and has resulted in having the greatest impact on their efforts at the Padlock Ranch.

He explained that shortly after taking the accounting course, they reorganized their system at the ranch and implemented the system taught in the course. They changed to accrual accounting and now use GAAP approved systems and have been pleased with the different system.

Another program Fahsholtz found beneficial was the systems thinking lectureship. “We all work in systems on ranches but are sometimes unaware of the interactions,” he said.

Seeing The Big Picture

A desire to enhance his knowledge of total ranch management is what spurred Macy Ledbetter to participate in the KRIRM programs, even though he has 21 years of experience in his field.

“As a professional wildlife biologist consulting with landowners, my primary role involves habitat evaluation and management,” said Ledbetter. “Most ranches in Texas are not exclusively wildlife ranches, but also are used for livestock and/or farming. I felt the knowledge I could gain from the ranch management program would better my ability to advise landowners on total ranch management.”

Ledbetter particularly found the Yarborough Lectureship on Oil and Gas and the Holt Cat® Symposium on water issues to be especially valuable. He said, “Many of my clients have oil and gas activity on their ranches and have to add that to the myriad of management factors and concerns. The oil and gas course provided timely information and taught me the details of mineral interests and how they work in various scenarios.”

Additionally, Ledbetter attended the 9th Annual Holt Cat® Symposium on Excellence in Ranch Management,Water: Agricultural Challenges and Strategies for the Future in October 2012.

“Texas’ historical water issues are only intensifying as our population increases and we experience years of severe drought. We learned how water affects our everyday lives and specifics of how future water shortages will affect us all,” shared Ledbetter.

Of his experiences participating in KRIRM programs, Ledbetter concluded, “With more than 250 client ranches scattered across Texas, these courses have allowed me to give my clients the most up to date, accurate information possible and to incorporate new information and viewpoints into my knowledge base.”

Having participated in many of the programs, von der Lieth and Fahsholtz also now encourage others they know to gain the experience and knowledge as well.

“I have recommended the programs to some of my ranch management consulting clients,” said Fahsholtz. “One ranch that I advise was able to take knowledge gained about oil and gas leasing and completely inventory and reorganize their oil and gas leases.”

California’s von der Lieth concluded, “I commend the King Ranch® Institute for Ranch Management for offering these programs. As university extension has lost funding and staff in many states, there is a definite need for the information and training programs like this for ranchers of the future.”

Industry Outreach The King Ranch® Institute for Ranch Management has developed a series of symposia and lectureships to reach out to the ranching industry and provide knowledge and technical training that will help ranchers and landowners deal with complex issues facing our dynamic industry. Each event is instructed by internationally recognized experts in their respective fields. Lectureships promote group work and discussion, which contributes greatly to the overall value and experience for attendees. Some also include hands-on training and field exercises.

The KRIRM showcase event each year is the annual Holt Cat® Symposium on Excellence in Ranch Management. The topic changes each year, but is always based on current issues in the ranching industry and provides knowledge that enables attendees to think more critically about the issues at hand. Speakers are world-renowned in the agricultural, land management, and ranching industries, including some of the most influential ranch managers and owners in the United States. Each symposium concludes with an in-depth tour of the historic King Ranch, which showcases successful integration of livestock, wildlife, oil and gas, and family.

Topics Covered • • • • • • • • •

Equine Management Grazing Management Human Resource Management Managerial Accounting gFinance A s a Oil & Gas x e T t Firs ipient: Prescribed Burning tificate Rec 08 r e C Real Estate Law er; 20 Clay Wolt Strategic Planning Systems Thinking KRIRM I Fall 2013 I 7

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Commit to Lifelong Learning

Upcoming Events October 24-25, 2013

Holt Cat® Symposium on Excellence in Ranch Management

which is several hundred thousand acres and borders a U.S. National Forest just east of Yellowstone National Park. The Hoodoo runs approximately 3,000 purebred Charolais and Charolais × Red Angus cross cows and supports vast amounts of wildlife.

White’s prior experience consisted primarily of managing South Texas wildlife ranches. Therefore, his internship at the Hoodoo Ranch was intended to help him develop more advanced cattle management skills. He spent much of his summer assisting with the development of a comprehensive grazing management plan to ensure rangeland sustainability while producing high quality beef in an ecologically sensitive fashion. Forage sampling and inventory was a vital part of the project and a huge undertaking on such a large and diverse tract of land. White was able to work with several government agencies and utilize the latest mapping and modeling technologies during the course of the project.

When he wasn’t working on the grazing management plan, White spent time with the operations manager and cow crew working cattle and artificially inseminating heifers and cows.

White says that he found it insightful working with ranch employees and government agencies on complex issues. He believes his one-on-one experiences this past summer with government employees, farmers, irrigators, cowboys, and management will help him manage human resources on ranches in the future. White notes that even though he was not previously exposed to ranching in the mountain states, his diverse background and preparation allowed him to excel this summer. He believes the internship was a great opportunity for him to grow personally and professionally.

January 7-10, 2014

Richard Mifflin Kleberg, Jr. Family Lectureship on Grazing Management

March 10-12, 2014

W.B. “Dub” Yarborough Lectureship on Oil and Gas

While working on his internship project, White also helped work cattle on Hoodoo.

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T hursday, October 24 10:00 a.m. Registration (Lobby) and Tradeshow (219ABC) 12:00 p.m. Lunch/Welcome/Introductions* 12:40 p.m. Keynote: An Industry in Transition: Dave DeLaney, VP of Ranching & Wildlife Operations King Ranch, Inc. 1:00 p.m. Climate Cycle: What’s in store for the next 10 years: Evelyn Browning-Garriss, Historical Climatologist, Albuquerque, NM 1:45 p.m. Cattle Industry: An Infrastructure at Risk: Tom Brink, Senior VP & Chief Risk Officer; JBS-Five Rivers Cattle Company, Greeley, CO 2:30 p.m. Break and Tradeshow (219ABC) 3:00 p.m. Outlook for Commodity Costs, Beef Demand and Prices: Randy Blach, CEO; Cattle-Fax, Englewood, CO 3:45 p.m. Managing Risk in the New Era of High Prices and Volatility:Tom Brink, Senior VP and Chief Risk Officer; JBS-Five Rivers Cattle Company, Greeley, CO/Randy Blach, CEO; Cattle-Fax, Englewood, CO 4:30 p.m. Speaker Panel Discussion 5:30 p.m. Social Hour (Caesar Kleberg Wildlife Center) 6:30 p.m. Dinner (Caesar Kleberg Wildlife Center) 7:15 p.m. KRIRM: An Opportunity for Greater Service (Caesar Kleberg Wildlife Center): Clay Mathis, Director; King Ranch® Institute for Ranch Management

Friday, October 25 7:00 a.m.

Breakfast (MSUB Ballroom A&B) & Tradeshow (219ABC) 8:00 a.m.

Recovering the Ranch after Drought: Trey Patterson, Ph.D., Operations Manager; Padlock Ranch, Ranchester, WY 8:45 a.m.

Outlook for Agriculture Land Prices: Charles Gilliland, Ph.D., Clinical Professor and Research Economist; Texas A&M Real Estate Center, College Station, TX 9:30 a.m.

Ranch Expansion: Considerations for Valuing Ranch Land Purchases: Paul Genho, Ph.D., President; Farmland Reserves, Inc.; Chairman of the Board, AgReserves, Inc., Salt Lake City, UT 10:00 a.m. Ranch Expansion: Considerations for Evaluating Leasing Opportunities: Ted McCollum, Ph.D., Beef Specialist; Texas AgriLife Extension, Amarillo, TX 10:30 a.m. Break and Tradeshow (219ABC) 11:00 a.m. Developing the Next Generation of Industry Leaders: Forrest Roberts, CEO; NCBA, Centennial, CO 11:30 a.m. Future Role of the University Systems in Agriculture: John Sharp, Chancellor; Texas A&M University System 12:00 p.m. Lunch/Wrap-Up (MSUB Ballroom A&B) 1:00 p.m. King Ranch Tour: Ranching in a Drought-Prone Environment 5:00 p.m. Adjourn

*All presentations, unless otherwise noted, will be held in the Memorial Student Union Building Ballroom A&B

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KING RANCH® INSTITUTE FOR RANCH MANAGEMENT TEXAS A&M UNIVERSITY-KINGSVILLE

NON PROFIT ORG U.S. POSTAGE PAID CORPUS CHRISTI, TX

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MSC 137 Texas A&M University-Kingsville Kingsville, TX 78363